Tex. Finance Code § 339.003
SALE OF OPEN-END ACCOUNT WITHOUT MERCHANT DISCOUNT
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 339.003, SALE OF OPEN-END ACCOUNT WITHOUT MERCHANT DISCOUNT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647159
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Full text
A seller or lessor may sell an open-end account credit agreement described by Section 339.002(a) or any balance under that agreement to a purchaser who purchases a substantial part of the seller's or lessor's open-end account credit agreements or balances under those agreements in accordance with Subchapter G, Chapter 345. A charge, fee, or discount on that sale:
(1) is not a merchant discount;
(2) does not disqualify the open-end account credit agreement or a balance under that agreement from being subject to Chapter 303 or from coverage under this section; and
(3) does not subject the account to the limitations provided by Section 303.006(c).